I can't speak to 'Refurbished by Canon' but I can tell you that the refurb business is an interesting one. For example, there's a US appliance brand called Hotpoint, a discount label owned by General Electric. I don't think this is still the case, but for many years (in my youth, I installed and serviced washers and dryers), appliances sold under the Hotpoint brand were units originally sold as the GE brand, and when returned for one reason or another, they were sold along with the factory seconds under the Hotpoint label.